Algoma funds bulker deal with newbuilding cancellation refund Algoma looks for extension to decide on replacement contracts at the Yanzijiang shipyard in China
US market fears tariff pinch Retailers, shippers and carriers are on tenterhooks as the 90-day trade truce reaches its climax
The Interview: Dimitris Fafalios Intercargo's new chairman lays out the dry cargo association's approach to 2020
US shippers voice anger at new street turn fees Shippers report that fees have been introduced by three lines and that they fear other shipping lines will join them...
Polish port tops BIMCO's dry bulk terminal vetting report Shipping association vetting report notes improved communication but highlights persistent problems, including inadequate waste reception facilities and restricted ganagways at...
The Lloyd's List Podcast: Breaking down the silos Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Gap between potential and reality for LNG There is an urgency to get these projects off the ground as power stations need to be fed and local...
CMA CGM unites shortsea operations under single brand CMA CGM seeks to provide a single entry point for European shortsea and logistics operation under its recently acquired Containerships...
OOIL poised to order 23,000 teu LNG-ready sextet The orders, if they materialise, will send OOIL's 20,000-teu class fleet to 12 units, enough to allow the company to...
North P&I wins post-Brexit approval to trade in Irish Republic From February 20, members and policyholders with a European Economic Area place of management will be insured by Dublin-based North...
China's purchases of US crude fell on trade war jitters Chinese purchases of US crude amounted to an average of 260,000 barrels per day in in the latter two months...
Daily Briefing Maersk said to be close to sale of Hamburg Süd's bulker and tanker unit | Spotlight falls on cargo inaccuracies...
Indonesia to break through with its second mini LNG PLN Geothermal is aiming to have the regas unit up and running in the third quarter of this year as...
First cargo of US LPG shipped to China in six months Despite some signs of progress in trade talks, most traders remain sceptical that the situation will change in the short...
Qingdao Port joins blockchain consortium GSBN QPG chairman Li Fengli says GSBN will allow the largest port in northern China to establish closer co-operation with global...
American Club claims stance in Gourdomichalis case is business as usual The American Club claims it came to the defence of a member as it would any other in litigation over Gourdomichalis brothers-linked bulker seized on the Columbia River. American Club accused of aiding chairman in lawsuit The comments came after the New York protection and indemnity mutual was accused in court papers filed in Brooklyn federal court last week of bolstering the defence of the club'
Bulkers still not ready to swap famine for feast, says Alphabulk Cargo volumes are growing at a faster rate than the already oversupplied fleet, research shows
Exmar shares climb on fresh buy rating Exposure to two improving markets has helped Exmar secure an initial buy rating from Kepler Cheuvreux. Shares in the Nicolas Saverys-led shipowner climbed today after the initiation report, which placed an €8.5 per share target price on the stock. Oslo's gas giants see share prices shine on US data Exmar set for rebirth after fixing out floating LNG unit Analysts Petter Haugen and Vetle Joha
Deltamarin to design Clive Palmer's Titanic II Australian shipowner Clive Palmer has again contracted Finnish group Deltamarin to design his new Titanic II cruiseship. His Blue Star Line has awarded a deal covering design, consultancy and project management services for the delayed $500m project. Deltamarin will modify an existing blueprint for the replica liner to meet the latest rules and regulations, including the SOLAS 2020 requirements
Great Eastern offloads veteran VLGC India's Great Eastern Shipping has struck a deal to sell an elderly LPG carrier. It said an unnamed buyer will take delivery of the 75,209-cbm Jag Vishnu (built 1994) in the first half of its current financial year. In October, brokers said Bharat Petroleum Corp has fixed Jag Vishnu for six months at $21,900 per day, with the option to extend the hire by a further period of three months. The co
CSSC Holdings set to snap two-year losing streak Shanghai-listed flagship unit of China State Shipbuilding Corp expects positive results for 2018 due to large one-off profit.
Melina Travlos makes ultramax market debut Greek owner Melina Travlos has made her first foray into the ultramax market to bring the size of her dry bulk fleet to four ships, according to market sources. London-based brokers identify Travlos company Neptune Dry as buyer of the 61,000-dwt ultramax Loch Nevis (built 2016), reportedly for $24.5m. Managers at the Piraeus-based company were not immediately available to comment on the informat
Nordseewerke bankrupt for second time in six months Germany's Fosen Nordseewerke has filed for bankruptcy again following its takeover by Norway's Fosen Group last year. The filing is the shipbuilder's fourth in six years. The Hannoversche Allgemeine Zeitung cited a company statement as saying the move was necessary because shareholders could not reach an agreement on joint financing of operations. The state government wants to maintain the ship
Augustea Navigation sells post-panamax bulker to miner Division of a Hong Kong-listed mining and mineral trading company has bought the ship.
MV Werften buys Neptun Ship Design German shipyard MV Werften has beefed up its offering with the takeover of Neptun Ship Design. Rostock-based Neptun is Germany's largest vessel designer. It will be a wholly-owned subsidiary of the MV Werften group, adding 120 staff. "We are pleased about the gain and the new, experienced colleagues in our team," said MV Werften managing director Peter Fetten. "Their know-how is well known to
CSAV ruling gives shippers advantage in cargo damage cases The UK supreme court has overturned a ruling that set a precedent in favour of shipowners when cargoes arrive damaged. Lord Jonathan Sumption rejected a 2016 court of appeal judgement in favour of Chilean line CSAV in a dispute with cargo owner Volcafe over coffee beans shipped from Colombia to Germany. He said the court was wrong to overturn the original finding that evidence fell short of prov
Daewoo Shipbuilding strikes upbeat note after $550m VLCC order flurry this week Shipbuilder says focus is on crude and LNG contracts as part of push for greater profitability.
Axel Hopfner teams up with Christoph Bruhn Boutique Hamburg S&P and newbuilding outfit grows with appointment of former Howe Robinson broker
KCC clears the way for share issue ahead of IPO Norway's Klaveness Combination Carriers (KCC) has paved the way for a share issue in connection with its upcoming IPO. The company said a general meeting on Friday authorised the board to sell new stock worth NOK 20m ($2.34m) in connection with the float. Norwegian Car Carriers eyes growth after profitable year It has also converted to a public limited company and will be inviting new investors
Oslo's gas giants see share prices shine on US data Avance Gas and BW LPG stocks shooting up fuelled by bright outlook on US inventories.
CSSC Guangxi inks debut order with LPG carrier deal The greenfield CSSC Guangxi Shipbuilding and Offshore Engineering yard in China has won its first order. Brokers report domestic owner Hainan Zhaogang Marine as contracting a 5,000-cbm LPG carrier at the yard. Delivery will be in 2020, but no price was given. The owner has two 2,500-cbm LPGCs built in 2007 and 2011, and a 1,606-cbm veteran built in 1979. CSSC Guangxi controls CSSC Guangxi Guij
FSL Trust sells product tanker as fleet renewal continues Some cash from sale will go towards newbuilding pair ordered in December.
Fitch: banks' recovery uncertain after Hanjin yard's filing Ratings agency Fitch has said lenders' recovery is uncertain after the filing for rehabilitation last week by Hanjin's Subic Bay shipyard HHIC-Phil. It added that the move highlights the risks to Philippine banks' asset quality from concentrated loan portfolios. "We believe several of HHIC-Phil's creditor banks have been monitoring the borrower, with some paring exposure in recent years, even th
MacAndrews merged into CMA CGM's Containerships CMA CGM is merging its short-sea line MacAndrews into the newly acquired Containerships operation. The French boxship giant said the brand would disappear on 1 April, with the Containerships name surviving. It bought Finland's Containerships last year. The aim is to create a leading intra-European carrier, unlocking "major synergies" along the way. MacAndrews was taken over in 2002 and merged
Oldendorff Carriers sells five self-unloaders amid pool exit Three ships have been divested to Canadian owner alongside German company's stake in CSL International Pool. Two more head to China.
Arrested Murmansk bulker up for auction An arrested Russian bulker is going under the hammer in the US. The US Marshal is selling Murmansk Shipping's 23,600-dwt Pomorye (built 2007). An independent valuation priced the vessel at $9.825m. Murmansk Shipping bulker arrested in Denmark But the reserve price and opening minimum bid is $2.5m. The sale is pursuant to a US court order made as a result of non-payment of a fee during a call
AVIC and SDTR firm up deal for 10 kamsarmaxes Chinese groups ink new eco-bulkers at Dalian Shipbuilding Industry Co.
North P&I hedges Brexit bets with Irish move UK insurer North P&I has secured post-Brexit authorisation to trade in Ireland. The Central Bank of Ireland will allow its subsidiary North of England P&I DAC to operate as a non-life insurance business, whether the UK leaves the European Union on 29 March or not. This guards it against the expected loss of existing EU financial services 'passporting' rights after Brexit. From 20 February, memb
Trinidad and Tobago returns to Australia for new ro-pax Caribbean islands adds to 94 metre high-speed ferry booked at Austal early last month.
Gard reveals extent of open-loop scrubber restrictions Beware of local restrictions before discharging washwater from exhaust gas scrubbing, warns P&I club.
Hyundai Heavy Industries bags suezmax tanker order double Meanwhile, Daewoo confirms Oman tanker order includes an option for a third VLCC.
Customs brokers feel pinch of government shutdown Various duty refund programs remain on hold as numerous CBP employees are on furlough during the federal government shutdown.
Heavy volumes increase congestion at major U.S. ports Relief is expected when volumes dip after Lunar New Year, which begins Feb. 5.
EU releases draft mandates for trade talks with U.S. Agriculture is excluded from the draft mandates on industrial goods tariffs and conformity assessment, which must be approved by EU member states' governments before the bloc can start trade agreement negotiations with the U.S.
Port of Los Angeles tenants trim operations SpaceX's lease on a 19-acre site at the port will end in February, while Cal Cartage will close its warehouse on an 85-acre site in July.
Lawmakers turn up export control heat on Chinese telecoms Under the proposed Telecommunications Denial Order Enforcement Act, Chinese telecoms that violate U.S. sanctions would face "the same severe punishment" as ZTE.
Kansas City Southern posts 2018 results Net income totaled $629.4 million for the year, while revenues reached $2.71 billion.
J.B. Hunt's earnings fall in 2018 despite higher revenues
OPEC urges redoubling of efforts to achieve market balance The Joint Ministerial Monitoring Committee of the OPEC and non-OPEC coalition has called on its members to redouble their efforts.
IEA raises 2019 non-OPEC oil supply growth estimate to 1.6 million b/d The International Energy Agency on Friday raised its estimate of the increase in non-OPEC oil supply this year.
US E&P capex likely to remain flat to down on year in 2019: Schlumberger US onshore E&P capital investments in 2019 are likely to be flat to slightly down from last year.
US judge pauses Atlantic oil, gas seismic permits during shutdown A federal judge on Friday blocked the US Interior Department from issuing permits for seismic testing for oil and natural gas reserves along the US East Coast.
Oil sustains early-session rally to settle higher Crude futures held onto an early-session upswing to settle just under intraday highs Friday.
European HSFO stocks little changed in Nov on conflicting sentiment: IEA European high sulfur fuel oil stocks edged down slightly in November.
Japan's Nov bonded bunker fuel oil sales rise 6% from Oct Japan sold 2.85 million barrels of bonded bunker fuel oil in November.
LNG bunkering set to accelerate globally in 2019: SEA\LNG "The economic case for LNG as the marine fuel of choice for newbuilds is growing stronger each month," Keller said.
Singapore may witness robust bunker sales for third consecutive year After posting near 50 million mt in annual sales for two consecutive years, Singapore is hoping to push its bunker fuel sales even further in 2019.
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